These pairs are discussed in the subsequent chapters of this tutorial, along with the role of each currency in the economy of its country (and the world) and the factors affecting the currency's movement. (Learn more about how pairs are traded in Finding Profit In Pairs.) In brief:

USD/EUR

With all other things being equal, a faster-growing U.S. economy strengthens the dollar against the euro, and a faster-growing European Union economy strengthens the euro against the dollar.

USD/JPY

The USD/JPY features low bid-ask spreads and excellent liquidity. As such, it is an excellent starting place for newcomers to the currency market as well as a popular pair for more experienced traders.

USD/GBP

The GBP/USD is one of the most liquid in the currency market. Bid-ask spreads are tight, and arbitrage opportunities are unlikely to exist. However, the liquidity of the pair combined with the availability of trading instruments makes the GBP/USD an excellent choice for all types of currency traders.

USD/CHF

Although it is somewhat less liquid than the euro and the pound, the Swiss franc is still an easy currency to trade.